VW SCANDAL: Values ‘marginally affected’

VW SCANDAL: Values ‘marginally affected’

TRADE values of Volkswagen used cars have so far only been marginally affected by the news of last week’s emissions scandal, according to figures from Glass’s, publishers of the motor trade bible Guide.

Their findings show that the trade values of all used Volkswagen’s in the Glass’s database today (30th September) are identical to how they were at the beginning of the month.

However, the overall used car market has increased by 2.1% during the month, meaning VW values have effectively fallen by 2.1%.

Looking specifically at Volkswagen’s used diesel cars, there was a 0.2% drop in values over the same period. However, the overall market in the same period has risen by 2.8%, meaning that the VW’s are trailing the market by 3%

Values of Golf diesels likely to be fitted with the Euro 5 engine in question fell by 3.7% over the past month, compared to the rest of it’s direct competition’s fall of 3.2%. This translates as a 0.5% deficit.

Rupert Pontin, head of valuations at Glass’s, said: ‘We are aware that a number of key trade buyers are viewing Volkswagen conservatively for the time being, although it is fair to say that there are also others who are less concerned and are essentially standing by the brand and its products.

‘Our market sources would lead us to believe that there has been a minimal change in asking prices although there are various anecdotal reports of reduced interest lower used sale activity and a reluctance for the trade to take part-exchanges.’

MORE ON VW SCANDAL:

700,000 Seat cars fitted with emissions test ‘cheat’ software

Winterkorn facing probe by German prosecutors

Audi reveals more than 2m of its cars worldwide have ‘cheat’ software

Switzerland bans sale of diesel Volkswagens

Carmaker admits diesel scandal affects VW Group vehicles

Confusion among VW dealers

Government was warned about emissions testing

Department for Transport launches emissions investigation

CAP predicts no impact on Volkswagen residual values

Skoda, Seat and Audi dealers braced for bad news

UK businesses hit by ripple effect

Biggest UK lawsuit could be on the cards

VW just tip of the iceberg amid claims tests are open to abuse

Winterkorn resigns

SMMT calls for calm

Audi and VW brand ‘damaged’

Chief executive ‘could lose his job’

VW faces billions in fines

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